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Author Topic: Can Bitcoin also lead to corruption ?  (Read 50422 times)
Allura74
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November 09, 2017, 09:39:48 AM
 #1281

of course, bitcoin is their field to launder their corrupt money, here are many opportunities but that need to be noticed bitcoin has a weak side everyone can use without being traced at all, this is what makes bitcoin banned in some countries.
Yes there is a big possibility that a bitcoin can be used for corruption because corruption is everywhere. Bitcoin as a virtual currency and a decentralized system
makes it vulnerable to corruption. For example to make this sense! i corrupt a huge money in a government or in a company where i have work then i don't want to have a trace because it will contradict against my assets and liability, so what will i am going to do is to invest it all with the bitcoins. Then it is already hard to trace since i was transacted it in a decentralized system and it is already considered as anonymous transaction.

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November 09, 2017, 10:04:15 AM
 #1282

We all know that there is corruption everywhere, like in government or any other organization. Because of money, corruption can always happen with greedy people who always wants more money to them. Since bitcoin can be considered as money, can it also lead to corruption?

I believe so. I mean if money itself, even the lowest currency can lead to corruption what more in bitcoin which has a really high value. So, there is no reason for a person to neglect or refuse on having bitcoin, they want more of it though.

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November 09, 2017, 10:15:38 AM
 #1283

I do not think that it can lead to corruption because it is just your own money and you should just do whatever you want to do with it and i would suggest to just do what you want i hear from people if i keep my bitcoins am i greedy then no your money your life do what you want with it.
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November 09, 2017, 03:07:59 PM
 #1284

We all know that there is corruption everywhere, like in government or any other organization. Because of money, corruption can always happen with greedy people who always wants more money to them. Since bitcoin can be considered as money, can it also lead to corruption?

I believe so. I mean if money itself, even the lowest currency can lead to corruption what more in bitcoin which has a really high value. So, there is no reason for a person to neglect or refuse on having bitcoin, they want more of it though.

It is also possible because bitcoin is just the same as fiat money. It will drive people crazy if they will lose it so some people also take an advantage through it and use it for bad purpose such as controlling people by promising them that they will give such amount of bitcoin to them. And we all know that people can easily be manipulated through money and it could also lead to corruption because the more the rate of bitcoin will rise, the more the interest of the people in bitcoin will also increase.

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Sidiq SP
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November 09, 2017, 03:21:39 PM
 #1285

how do I know how bitcoin each member has, and protected if seama stored in the VIP, the possibility to take away from belonging to others is difficult, corruption here, maybe it could happen in the real world, keep the money from corruption in buy bitcoin , if such a possibility could still happen

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November 09, 2017, 04:11:07 PM
 #1286

In one aspect yes! money laundering can occurre in bitcoin because the transactions can not be traced so the chances are that some people may be using bitcoin for running their illegal businesses.
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November 09, 2017, 04:55:42 PM
 #1287

I think bitcoin can also lead to corruption. Because even in small currency moneys there is a corruption and bitcoin has a big currency, big currency means big amount of money and money is always connected to corruption, because of greediness.
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November 09, 2017, 05:10:07 PM
 #1288

I don't think so! Bitcoin is the same as money which is the priority need of all people (I'm talking about material concern of man).
Money is not the one that leads people to corruption, so same as bitcoin. Corruption is in the man's heart not in Bitcoin. So as long as there is selfish, then, corruption is there not because of the money or the bitcoin but because of being selfish and uncontented.

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November 09, 2017, 05:24:45 PM
 #1289

I'm sure that bitcoin BTC will lead to corruption.
Because there are many options for money laundering, and no one can track them.
Therefore, many countries are afraid to officially legalize Bitcoin.

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November 09, 2017, 11:17:11 PM
 #1290

It's possible that someone is doing corruption with a digital currency for example bitcoin. You are able to corrupt and save money into bitcoins. Nobody understands that you're the owner of the money. Since the bitcoin is unknown. I believe a great way to eliminate your financial records is by turning them into bitcoins. Perhaps when the corruptors know it they'll save their cash on bitcoin.
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November 09, 2017, 11:33:40 PM
 #1291

We all know that there is corruption everywhere, like in government or any other organization. Because of money, corruption can always happen with greedy people who always wants more money to them. Since bitcoin can be considered as money, can it also lead to corruption?
No, because no one can corrupt it. Bitcoin is decentralized and no one controls it. The only threat to this type of money are hackers and the ones who scam

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November 10, 2017, 03:41:03 AM
 #1292

What kind of corruptions you are talking about? Bribes? Money laundering? Insider trading? Every single one of those existed before bitcoin and they will exist after it. If bitcoin made being corrupted easier, so what? Internet also made so many crimes possible. People even can hire hitmen from the internet. Do we blame the internet for that? No. Every technological advancement comes with pros&cons.
it may not be possible, because whatever it is there is nothing that is impossible what to do with money or whatever is profitable. various ways will be fought with people who are jolts whose lives are never satisfied, the era of technology and what age the name of corruption must exist. it has become the law of nature, the most important thing to make as safe and intelligent as possible.

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November 10, 2017, 11:10:29 PM
 #1293

We all know that there is corruption everywhere, like in government or any other organization. Because of money, corruption can always happen with greedy people who always wants more money to them. Since bitcoin can be considered as money, can it also lead to corruption?

Even the mother of all nations have a corruption in their hearts, the thing here is that we just cant blame the blockchain technology by the actions the leads to corruption. Everything can lead to corruption, even alts and that's how the world work. If you are worried that BTC will become a big part of terrorism, crime and drugs then even if BTC dont exists this crimes will never cease to exists. It is here even before the time of Cain and abel. Questions like this is so obvious that people are blaming things for their own actions, and thats sad that humanity lost the way of viewing things that instead of fixing themselves, they are banning something that is worth using for.

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November 11, 2017, 01:16:52 AM
 #1294

Corruption can happen everywhere since human feels lack of something, like they never satisfied.
bitcoin for distribution by scamming peeps to invest in the program or ain't pay for what tasks have been done by users like bounty campaign.
it's the example.
moreover, when government is in for controlling this.
well, we'll look forward.
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November 11, 2017, 01:20:32 AM
 #1295

Seems so legit since bitcoin is running on a decentralized platform or blockchain which means every transaction you made is unknown since you only have to use your bitcoin address and that makes hard for the government to trace that transaction.

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November 11, 2017, 05:33:11 AM
 #1296

For me, no. If in use to save money the results of problem might be.
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November 12, 2017, 07:34:30 AM
 #1297

We all know that there is corruption everywhere, like in government or any other organization. Because of money, corruption can always happen with greedy people who always wants more money to them. Since bitcoin can be considered as money, can it also lead to corruption?

Yes. Actually it will be more secret or hidden for each transaction happens in the internet. We cannot control every individual in the web specially they don't even give their personal identities. It is easy for them to do that and become more accessible by the help of internet. Corruption can arise in every platforms if there are still individual that are greedy to wealth.

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November 12, 2017, 09:55:38 AM
 #1298

We all know that there is corruption everywhere, like in government or any other organization. Because of money, corruption can always happen with greedy people who always wants more money to them. Since bitcoin can be considered as money, can it also lead to corruption?

Yes. Actually it will be more secret or hidden for each transaction happens in the internet. We cannot control every individual in the web specially they don't even give their personal identities. It is easy for them to do that and become more accessible by the help of internet. Corruption can arise in every platforms if there are still individual that are greedy to wealth.
I agree to that. Almost all the platforms of the forms of money are vulnerable for the people who are corrupt because they are so greedy and hungry for wealth so they will do anything just to execute an illegal thing to engage a corruption. Bitcoin is one of the most vulnerable for that because of the anonymity but there is nothing new for that because even in the fiat currencies which are not anonymous are prone to corruption.

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November 12, 2017, 10:31:46 AM
 #1299

I have been in the corporate as well as self-govern community. You have to accept the reality that people are motivated by all kinds of reasons, noble cause, financial interest, title, power, ego, sex, and many other dark gains. We can't blame corporate, community, money or technology for these dark sides of human being. I am sure scammers will invent more scams on Bitcoin and people will be creative to use this new currency for their corruption agenda. The bottomline is this, whether it provides this world more good than bad? It is also a race between two camps as one tries to advance the benefit of the society as a whole as well as individuals while the other camp tries to advance a few individuals' benefit at the cost of the rest majority.
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November 12, 2017, 10:54:07 AM
 #1300

If there's a lot of money there is a possibility that it will lead in corruption. We cannot avoid people who are greedy and ready to do anything for the sake of money, and reality check there is a lot of people with that kind of mentality.Corruption is everywhere wether in government or in private sectors, it is a one of a kind sickness of human that until now no curement. It can also be done by a single person neither a group, but hoping decent people here in btc will remain and stand to there good perspective and goals.

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